Citizens Budget Commission

Overview

To further the debate on the importance of taxes to the New York City economy, the CBC is convening a panel discussion on December 11, 2006 "How Much Do Taxes Matter? New York City's Tax Burden and Economic Competitiveness." We are asking whether and how, in this time of good fiscal fortunes, tax policy changes should be on the City's budget agenda. We will consider overall tax levels, discretionary tax breaks, property tax reform, and New York State's role, always with a strong emphasis on what the evidence shows.

The distinguished and diverse panel includes Rep. Anthony Weiner, Barry Gosin, CEO of Newmark Knight Frank, City Finance Commissioner Martha Stark, Working Families Party Executive Director Dan Cantor, New York State Business Council President Ken Adams, NYC Council Finance Chair David Weprin, Council Minority Leader James Oddo, E.J. McMahon from the Empire Center, IBO Director Ronnie Lowenstein, Deputy City Comptroller Marcia Van Wagner, James Parrott of the Fiscal Policy Institute, Federal Reserve Research Officer Andrew Haughwout, and Hunter College Professor Howard Chernick. I will moderate the panel along with CBC Chair Dale Hemmerdinger..

The event is a discussion among the researchers, the practitioners, the politicians, and "the taxed" about what is known about good policy, and what, if anything, prevents change in NYC to follow this advice. The goal is to stimulate more informed discussion of the issues among public officials, and to help the press ask informed questions about tax policy when issues come up. This event will be very interactive, with little or nothing in the way of opening statements.

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Bios

The Bios for the December 11, 2006 Panel Discussion can be downloaded here.

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Background & Evaluation of NYC Taxes

A primer on New York City Taxes that describes each major tax and assesses each based on four criteria can be downloaded here.

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Taxes Literature Review

A paper entitled “How Much Do Taxes Matter?” which summarizes the econometric literature that tries to model the relationship between tax levels and economic growth.
Executive Summary

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How New York City Compares

A comparison of tax burden in the largest city of each of the 50 states completed by the Washington DC local government can be downloaded here.

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	How Much Do Taxes Matter? New York City's Tax Burden and Economic Competitiveness December 11, 2006 Pace University, 3 Spruce Street, New York, NY Overview \|\| Bios \|\| Background & Evaluation of NYC Taxes \|\| Taxes Literature Review \|\| How NYC Compares Overview To further the debate on the importance of taxes to the New York City economy, the CBC is convening a panel discussion on December 11, 2006 "How Much Do Taxes Matter? New York City's Tax Burden and Economic Competitiveness." We are asking whether and how, in this time of good fiscal fortunes, tax policy changes should be on the City's budget agenda. We will consider overall tax levels, discretionary tax breaks, property tax reform, and New York State's role, always with a strong emphasis on what the evidence shows. The distinguished and diverse panel includes Rep. Anthony Weiner, Barry Gosin, CEO of Newmark Knight Frank, City Finance Commissioner Martha Stark, Working Families Party Executive Director Dan Cantor, New York State Business Council President Ken Adams, NYC Council Finance Chair David Weprin, Council Minority Leader James Oddo, E.J. McMahon from the Empire Center, IBO Director Ronnie Lowenstein, Deputy City Comptroller Marcia Van Wagner, James Parrott of the Fiscal Policy Institute, Federal Reserve Research Officer Andrew Haughwout, and Hunter College Professor Howard Chernick. I will moderate the panel along with CBC Chair Dale Hemmerdinger.. The event is a discussion among the researchers, the practitioners, the politicians, and "the taxed" about what is known about good policy, and what, if anything, prevents change in NYC to follow this advice. The goal is to stimulate more informed discussion of the issues among public officials, and to help the press ask informed questions about tax policy when issues come up. This event will be very interactive, with little or nothing in the way of opening statements. Back to top Bios The Bios for the December 11, 2006 Panel Discussion can be downloaded here. Back to top Background & Evaluation of NYC Taxes A primer on New York City Taxes that describes each major tax and assesses each based on four criteria can be downloaded here. Back to top Taxes Literature Review A paper entitled “How Much Do Taxes Matter?” which summarizes the econometric literature that tries to model the relationship between tax levels and economic growth. Executive Summary Back to top How New York City Compares A comparison of tax burden in the largest city of each of the 50 states completed by the Washington DC local government can be downloaded here. Back to top


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